Finance Archive
The End of the Regularization Deadline in Accordance with the Provisions and Regulations of Financing
This circular is currently available only in Arabic, please click here to read the Arabic version.Guidelines for Applying for Permission to Engage in BNPL
Date(g): 4/10/2021 | Date(h): 27/2/1443 Status: No longer applicable These Guidelines have been replaced by the Guidelines for Applying for a License to Practice (BNPL) Activity issued in 24/01/2024G.First: How to apply
You can apply for SAMA’s permission by contacting the General Department of Finance Companies Control - Finance Companies Licensing Division, via email (LICFCC@SAMA.GOV.SA)
Second: Required documents
Applicants are required to attach the policies and procedures that they will follow in their activities at least the following:
- Company owners’ data and the organizational structure of the company, including the required departments, functions and tasks.
- A feasibility study identifying the target sector, services to be provided and three-year business plan.
- Rules and procedures of technology and information security, cybersecurity policies, the confidentiality of information and privacy of customer data.
- Anti-fraud and financial crime policies.
- Customer service, collection and complaints handling policy.
- The policy of dealing with conflicts of interest.
- Policies of compliance with relevant rules, regulations and instructions, including the anti-money laundering law and the credit information law.
- Risk management policy.
- Number of staff and Saudization ratios.
- A policy for granting purchases financing.
SAMA also welcomes those wishing to obtain a permit - during the application processing - to reach out for clarification of any aspects associated with obtaining the permit via the telephone number of the General Department of Finance Companies Control (+966114662020).
Commercial Real Estate Finance Regulation
This circular is currently available only in Arabic, please click here to read the Arabic version.Self-Assessment of the Commitment of Finance Companies to the Clients Protection Principles
No: 381000092240 Date(g): 27/5/2017 | Date(h): 2/9/1438 Status: No longer applicable This circular is currently available only in Arabic, please click here to read the Arabic version.Obtaining Licenses to Practice Financing
Based on the Real Estate Finance Law issued by Royal Decree No. M/50 dated 13/8/1434H, and its implementing regulations issued by the Minister of Finance Decision No. 1229 dated 10/4/1434H, the Finance Lease Law issued by Royal Decree No. M/48 dated 13/8/1434H, and its implementing regulations issued by SAMA Governor Decision No. 1/M dated 14/4/1434H, and the Finance Companies Control Law issued by Royal Decree No. M/51 dated 13/8/1433H, and its implementing regulations issued by the Governor of SAMA Decision No. 2/M dated 14/4/1434H, and as stipulated in Article 99 of the Implementing Regulation of the Finance Companies Control Law which states that "Companies and establishments engaging in finance activities in the Kingdom of Saudi Arabia prior to the law's entry into force must provide SAMA, within the first nine months prescribed in Article 36 of the law with their plan to correct their situation according to the law or a plan to exit the market."
All companies and establishments engaging in finance activities in the Kingdom before the law comes into force must apply to SAMA for a license to conduct finance activities in accordance with the provisions of the law by the end of the working day on Wednesday 14/10/1434H, or cease finance activities entirely and provide SAMA with a market exit plan by Wednesday 14/10/1434H. Copies of the finance laws, their implementing regulations, application forms and guidelines for obtaining a license, and exit instructions can be obtained through the following link: (sama.gov.sa/Finance/Pages/Home.aspx)